Business Climate
Initially, the US–Canadian currency exchange rate had given people from the United States an economic incentive to gamble at Caesars Windsor. The exchange rate was a major contributor to U.S. gamblers crossing the border in Casino Windsor's boom years of the late 1990s. The Canadian dollar was trading below the sixty-five-cent mark compared to the U.S. dollar in the late 1990s, giving U.S. visitors a price incentive to gamble in Windsor as well as spend in the city's hotels and hospitality establishments. The rebounding of the Canadian dollar, in 2006 breaking the ninety-cent mark, which is often linked to the higher price of oil, since Canada is an oil exporting nation, has negatively impacted the casino and the Windsor tourist trade, especially when the added sales taxes are factored into decisions. Nevertheless, because the Canadian government does not tax gambling winnings, the casino often promotes this in order to draw clientele from the United States who are left to themselves to declare taxes on their winnings.
In 2007, the Canadian dollar eclipsed and even exceeded the U.S. dollar by several cents, which has added to the decline of the Windsor, Ontario hospitality sector. The casino must compete with three Detroit casino resorts which opened expanded resort-style properties in 2008. The positive exchange rate for Canadians has drawn them across the border to shop and gamble, and Windsor has joined other cities in North America in a recession.
Caesars Windsor is popular with some 19 and 20-year-old Americans because the drinking age in Ontario is 19 compared to 21 in the US. Gambling in Detroit is also set to age 21.
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